SMM August 22 News:
Overnight, LME lead opened at $1,978.5/mt and continued the consolidation trend from the previous trading day. During the Asian session, LME lead fluctuated at highs between $1,975-1,985/mt. In the afternoon, LME lead pulled back from highs, especially after the US dollar index strengthened, with the center of LME lead's movement dropping below $1,970/mt. Overnight, LME lead attempted to recover its losses but failed, eventually closing at $1,970/mt, down 0.53%.
Overnight, the most-traded SHFE lead 2509 contract opened at 16,755 yuan/mt. With a decrease of over 1,000 mt in lead warrant inventory, SHFE lead fluctuated upward, reaching a high of 16,800 yuan/mt during the session, and finally closed at 16,790 yuan/mt, up 0.18%; open interest reached 42,843 lots, a decrease of 1,387 lots from the previous trading day. Recently, positions in the SHFE lead 2509 contract have been gradually shifting to the 2510 contract, so attention should be paid to the change in the most-traded contract.
